Red Bull Loses Its Wings, Dragging Norfolk’s European Business Down — Panjiva
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Red Bull Loses Its Wings, Dragging Norfolk’s European Business Down

China 1846 Cons. Discr. - Autos 693 Cons. Staples - Food/Beverages 420 Corp - Ports 681 European Union 424 Industrials - Capital Goods 284 Mode - Containerized 1037 Mode - Seaborne 1308 U.S. 3450

Container handling through Norfolk and its neighboring ports climbed 10.1% year over year in May, driven by a 10.1% rise imports and 18.6% surge in empty container handling. By contrast to the U.S. average, Norfolk’s shipments from China actually rose by 10.2% while its shipments from Europe fell by a worse-than-average 5.6%. The latter was in large part down to a 33.1% collapse in shipments by Red Bull, the largest shipper using the port in 2018. Industrial sector imports were also weak with toolmaker Stihl seeing a 33.4% slide and Michelin’s tire shipments falling 61.0%.

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